Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0129%/8h= +14.2% APRpaid last 24h +0.115%

Price spread now: Backpack against KuCoin+0.013%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.686%+$69 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now +0.013%, 7d avg +0.100%

Together, before fees+0.773%+$77 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.087% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.100%). If the spread goes back, that is −$9 on $10k: about 2.2 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.686% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VVVUSDTM	32.295	0.0100	pay 0.0050% / 4h	1h 14m	$2.0M	$2.9M	20x
Short	Backpack VVV_USDC_PERP	32.299	0.0229	get 0.0029% / 1h	14m 13s	$122K	$373K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee BackpackbpOrdersPrice spread, now +0.013%Rate

Funding earned: $27.19
Price spread: +0.013% → +0.100%: −$8.7
Slippage, 4 orders: −$86.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$89.69
Costs to cover: 1.082%
Break-even: 30.1 days

Slippage from KuCoin: live order book, 3 min ago; Backpack: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 3 min ago	10.56 bp	37.3 bp −$37	784.8 bp −$7,848	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	2.36 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit

VVV on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.285	−0.031%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.295	−0.001%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.626%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	32.293	−0.007%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.284	−0.034%	$480K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.131	−0.508%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.297	+0.008%	$149K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.303	+0.026%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.305	+0.031%	$185K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.285	−0.032%	$33.8M	$157.6M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VVVUSDT	+0.0100%	4h	32.273	−0.068%	$39.7M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.284	−0.034%	$4.7M	$42.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.274	−0.065%	$10.9M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.290	−0.015%	$6.3M	$7.1M	50x	as long as short
KuCoin VVVUSDTMlong	+0.0100%	4h	32.295	long leg	$2.0M	$2.9M	20x
Bitget VVVUSDT	+0.0100%	4h	32.277	−0.056%	$5.9M	$9.0M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.277	−0.056%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.172	−0.379%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.288	−0.022%	$139K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.291	−0.012%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.276	−0.059%	$2.1M	$2.1M	50x	as long as short
Kalshi KXVVVPERP	+0.0100%	8h	32.306	+0.034%	$109K	$6.9M	1.7x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.324	+0.090%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.288	−0.022%	$325K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.283	−0.036%	$6K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.300	+0.015%	$1.3M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.191	−0.323%	$80K	$333K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.319	+0.074%	$239K	$1.3M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.298	+0.011%	$398K	$603K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0186% / S +0.0168%	1h	32.295	−0.001%	$621K	—	100x	as long as short
Backpack VVV_USDC_PERPshort	+0.0229%	1h	32.299	+0.013%	$122K	$373K	5x
Hyperliquid VVV	+0.0301%	1h	32.290	−0.015%	$74.9M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0336%	1h	32.305	+0.031%	$12K	$3K	3x	as long as short